Communist countries unusual relationship with money

Today marks 100 years since the first communist government was formed. The Bolsheviks over threw the the Tsar autocracy in Russia which led the way to rise of the Soviet Union. The beginning of modern communism paved the way for several other countries attempt at creating a truly socialist state based on a classless society.However its success is questionable, this may be because of communist states unusual relationship with money.In a ideal communist society money would be removed, as no one works for profit, only for what is required. On one hand communist states have attempted to show money as meaningless, on the other it and amp;#39;s use as a tool to spread propaganda has been invaluable.Curator of Modern Money at the British Museum, Thomas Hockenhull spoke to IBTimes UK about how this contradiction worked in practice.

By Staff Reporter
November 8, 2017 00:15 +08

IBTimes UK

Today marks 100 years since the first communist government was formed. The Bolsheviks over threw the the Tsar autocracy in Russia which led the way to rise of the Soviet Union. The beginning of modern communism paved the way for several other countries attempt at creating a truly socialist state based on a classless society.However its success is questionable, this may be because of communist states unusual relationship with money.In a ideal communist society money would be removed, as no one works for profit, only for what is required. On one hand communist states have attempted to show money as meaningless, on the other it and amp;#39;s use as a tool to spread propaganda has been invaluable.Curator of Modern Money at the British Museum, Thomas Hockenhull spoke to IBTimes UK about how this contradiction worked in practice.